Gabelli Funds LLC Sells 65,033 Shares of Garrett Motion Inc. $GTX

Gabelli Funds LLC lessened its position in Garrett Motion Inc. (NASDAQ:GTX) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,023,504 shares of the company’s stock after selling 65,033 shares during the period. Gabelli Funds LLC’s holdings in Garrett Motion were worth $17,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. D Orazio & Associates Inc. lifted its stake in shares of Garrett Motion by 7.2% in the third quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock worth $206,000 after buying an additional 1,015 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after buying an additional 1,350 shares in the last quarter. Baron Wealth Management LLC lifted its stake in shares of Garrett Motion by 6.3% in the fourth quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock worth $461,000 after buying an additional 1,570 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after purchasing an additional 1,593 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Garrett Motion by 99.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company’s stock valued at $60,000 after purchasing an additional 1,720 shares during the period. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 1.9%

Shares of Garrett Motion stock opened at $30.38 on Tuesday. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.03 and a beta of 0.70. The company’s 50 day moving average is $20.99 and its 200 day moving average is $19.03. Garrett Motion Inc. has a twelve month low of $9.57 and a twelve month high of $32.44.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.1%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the transaction, the senior vice president directly owned 160,994 shares in the company, valued at approximately $3,266,568.26. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the transaction, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 354,178 shares of company stock valued at $7,375,587 over the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GTX shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. Freedom Capital downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus increased their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings started coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They set a “buy (b)” rating on the stock. Finally, BWS Financial increased their price objective on shares of Garrett Motion from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.80.

Garrett Motion Profile

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.